Simple Trade Setup | SAIL | 16-09-2021

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Observations:

1)On Daily Time frame: It has been facing resistance from 21DMA and is not able to close above it. Currently 21DMA is placed at 121.48 level.

Please refer below chart : Daily time frame.

2) On daily time frame: It has been respecting the support zone and keep on taking support from it. Support Zone if from 118.55 to 120 level.

Please refer below chart : Daily time frame.

3) On 1hr time frame it has been trading between 118.60 to 123.75 level since more than 7 days. Breakout of any level will give move on respective side.

Please refer below chart : 1 hr time frame.

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Trade Setup for Date 16-09-2021:

1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.

2) Everything is mentioned on the chart. I hope it is easy to understand.

3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.

Please refer below chart for levels.